Homepoint president takes long-term view of wholesale lending

Today’s economic crisis has intensified the pandemic-driven battle pitting the retail and wholesale markets. Phil Shoemaker, president of originations at Homepoint, thinks it’s time to change that narrative.

“Working in the wholesale channel versus the retail channel again, I think the dialogue on this needs to change a little bit because there’s been some healthy and unhealthy dialogue,” he said. “Brokers are better. Wholesale is better. It really isn’t that. It’s more of a platform discussion. There are plenty of really good lenders in retail that keep their overheads low, and they’re able to serve the borrowers. I’m not seeing retail go away.”

However, the Homepoint executive believes wholesale is “better for the consumer” and that the overall market has shifted more towards wholesale. In the latest MPA Talk edition, Shoemaker discussed the company’s wholesale-focused strategy and whether it will stick to it amid economic uncertainty or pivot to grab market share from competitors.